Toromont Industries Ltd (TIH) to Post Q3 2017 Earnings of $0.59 Per Share, National Bank Financial Forecasts

Toromont Industries Ltd (TSE:TIH) – Equities researchers at National Bank Financial issued their Q3 2017 earnings per share estimates for shares of Toromont Industries in a research report issued to clients and investors on Wednesday. National Bank Financial analyst M. Sytchev anticipates that the company will post earnings per share of $0.59 for the quarter. National Bank Financial currently has a “Outperform” rating and a $52.00 target price on the stock.

Several other brokerages also recently weighed in on TIH. TD Securities increased their price target on Toromont Industries from C$42.00 to C$47.00 and gave the stock a “hold” rating in a report on Friday, April 28th. Royal Bank Of Canada downgraded Toromont Industries from an “outperform” rating to a “sector perform” rating and set a C$51.00 price target for the company. in a report on Friday, April 28th. Canaccord Genuity increased their price target on Toromont Industries from C$43.00 to C$50.00 and gave the stock a “hold” rating in a report on Tuesday, May 2nd. Finally, Scotiabank reaffirmed a “sector perform” rating and set a C$48.50 price target on shares of Toromont Industries in a report on Wednesday, July 26th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Toromont Industries currently has an average rating of “Hold” and a consensus price target of C$48.07.

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Toromont Industries (TIH) opened at 46.29 on Monday. The firm has a market capitalization of $3.63 billion and a PE ratio of 22.83. The company has a 50 day moving average of $47.02 and a 200 day moving average of $46.02. Toromont Industries has a 1-year low of $37.59 and a 1-year high of $50.45.

Toromont Industries (TSE:TIH) last posted its earnings results on Tuesday, July 25th. The company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by $0.04. Toromont Industries had a net margin of 6.55% and a return on equity of 12.14%. The firm had revenue of $530.93 million during the quarter, compared to analyst estimates of $550.60 million.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 8th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date of this dividend is Thursday, September 7th.

Toromont Industries Company Profile

Toromont Industries Ltd is a Canada-based company, which operates through two segments: Equipment Group and CIMCO. The Company’s Equipment Group is involved in supply of specialized mobile equipment and industrial engines. It consists of businesses, including Toromont CAT, Battlefield-The CAT Rental Store, Sitech Mid-Canada Ltd., Toromont Energy Ltd.

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